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Peggy Ye

Cheryl Arcibal

Sun Hung Kai Properties (SHKP), Hong Kong’s biggest developer by market capitalisation, reported its underlying profit for the year ending June rose 4.6 per cent to HK$22.85 billion (US$2.91 billion), excluding investment property revaluations.
Meanwhile, its reported profit increased to HK$21.43 billion, backed by a HK$1.38 billion net revaluation gain versus a HK$742 million loss last year, according to its filing with the Hong Kong stock exchange on Thursday.
“For the year under review, Hong Kong’s residential property market continued its recovery, underpinned by improved economic conditions, an active financial market, and a relatively accommodative interest rate environment,” said Raymond Kwok Ping-luen, the company’s chairman and managing director, in the filing.
“The sustained inflow of talent and students contributed to a steady rise in residential rents, reinforcing homebuyers’ confidence,” Kwok said. “Primary residential projects with premium amenities and convenient transport links continued to receive encouraging sales responses.”
Contracted sales during the year amounted to HK$38.1 billion in Hong Kong, with major contributors including the Sierra Sea of Sai Sha Residences and Cullinan Sky and Cullinan Harbour in Kai Tak.
For the rest of the year, the group said it planned to launch Sierra Sea phase 2C and phase 1A of the Tung Shing Lei project in Yuen Long. In the first half of 2027, new launches are expected to include a new project in Tai Wai, phase 1 of the Kwu Tung North project, a project near MTR City One Station in Sha Tin, and phase 1B of the Tung Shing Lei project.
The group’s annual results reflected the improved prospects of Hong Kong’s residential property segment, which shook off a three-year slump in 2025 as lived-in home prices jumped 3.59 per cent, according to data from the Rating and Valuation Department.
The developer also emphasised its support for Hong Kong’s Northern Metropolis project.
“The group’s commitment is demonstrated by the development of eight projects in the area, providing around 10,000 residential units and essential commercial and transport amenities that facilitate the development of the Northern Metropolis into an area ideal for living, working, learning and tourism,” Kwok said.
“These developments are located across different areas in the Northern Metropolis, including those adjacent to future MTR stations such as Kwu Tung and Hung Shui Kiu.”

Meanwhile, the group’s gross rental income across its portfolio in Hong Kong, including contributions from joint ventures and associates, edged up by 1 per cent to HK$17.7 billion, with overall occupancy remaining “stable”, the disclosure said.
“Driven by active IPO and financial market activities, the two IFC towers in Central achieved an occupancy of close to 100 per cent,” Kwok said. “ICC in West Kowloon maintained a high occupancy of about 92 per cent, supported by new leases from multinational and mainland corporates, as well as in-house expansion from wealth management firms.”
For the coming year, SHKP said it expected mainland China’s economy to “stay resilient”, adding that Hong Kong had “also been growing steadily, driven by robust trade performance and resilient domestic demand”.
“Hong Kong’s first five-year plan, which serves as a strategic blueprint for its economic development, is expected to strengthen the city’s position as a leading offshore renminbi (yuan) hub and wealth-management centre, while further reinforcing its role as a ‘superconnector’ and ‘super value-adder’,” Kwok said.
SHKP declared a final dividend of HK$2.93 per share for the year, to be paid on November 19. Along with the interim dividend of 98 HK cents per share, the dividend for the full year will be HK$3.91 per share, an increase of 4 per cent from the previous year.


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Hong Kong’s biggest developer reported underlying profit of HK$22.85 billion, as the city’s property market continues to recover


Hong Kong’s biggest developer reported underlying profit of HK$22.85 billion, as the city’s property market continues to recover.


SHKP posts 4.6% profit rise amid Hong Kong’s property recovery

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Hong Kong’s biggest developer reported underlying profit of HK$22.85 billion, as the city’s property market continues to recover

Hong Kong’s biggest developer reported underlying profit of HK$22.85 billion, as the city’s property market continues to recover